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Frescobaldi global sales up 6%
Driven by strong demand from the US, global wine sales at Tuscany’s renowned Frescobaldi wine group, have increased by around 6% in value in 2016 compared with 2015, according its president, Marchesi Leonardo Frescobaldi.
Speaking to dbHK on the sideline of the Under the Tuscan Sky event at the Conrad Hong Kong on Monday, Marchesi Leonardo Frescobaldi revealed that the US and Canadian markets have seen robust growth in the past year, comprising around 25% to 30% of the Tuscan wine group’s global sales in 2016.
The Marchese, however, did not specify the exact value amount.
Asia, in general – which includes Japan, Hong Kong, Singapore and Thailand – only takes up a meagre 4% of the company’s total value sales, generated by a network of fine wine estates in Chianti, Montalcino and in coastal Tuscany such as Castello Nipozzano, Castello Pomino, CastelGiocondo, Tenuta Castiglioni and Tenuta Ammiraglia together with Luce della Vite, Ornellaia and Masseto.
China, in particular is a market where the winery is looking to expand to, the Marchese added.
Differing from mature markets in the US and Europe; China has already seen Italian wines developing a firm stronghold, though total market share for Italian wines still lies under 6%.
From January to September, Italian wine exports to China grew 28.1% year-on-year to €90 million, with sparkling wine sales up 35%, according to figures released by Business Strategies/Nomisma.
This puts only China as Italy’s 10th biggest export market, responsible for 5% of its total exports.
Sales in Europe made up about 70% of its total revenue in 2016.